Comcast’s Bonds Gain Following $2.25 Billion Two-Part Offering

July 2 (Bloomberg) -- Bonds of Comcast Corp. rose after the
largest U.S. cable company sold $2.25 billion of debt last week
in a two-part issue.

The company’s $1 billion of 3.125 percent notes maturing in
July 2022 increased to 102 cents on the dollar to yield 2.89
percent, or 132 basis points more than similar-maturity
Treasuries, at 1:33 p.m. in New York, according to Trace, the
bond-price reporting system of the Financial Industry Regulatory
Authority. The securities were sold on June 26 at 99.91 cents
and yielded 150 basis points more than Treasuries, according to
data compiled by Bloomberg.

Comcast’s $1.25 billion of 4.65 percent, 30-year bonds also
gained to 102.56 cents on the dollar, a relative yield of 183
basis points, according to Trace. The debentures were sold at
99.92 cents and yielded 195 basis points more than benchmarks,
Bloomberg data show.

The television-services operator raised the debt as it
plans to redeem $575 million of its 6.625 percent senior notes
maturing in May 2056, the Philadelphia-based company said in a
June 22 statement.